Biogen Inc (NASDAQ:BIIB) – Investment analysts at SunTrust Banks issued their FY2022 earnings per share (EPS) estimates for shares of Biogen in a report released on Friday. SunTrust Banks analyst Y. Suneja forecasts that the biotechnology company will post earnings of $29.60 per share for the year. SunTrust Banks has a “Buy” rating and a $354.00 price objective on the stock.
Several other equities research analysts have also weighed in on BIIB. Oppenheimer set a $380.00 price objective on shares of Biogen and gave the stock a “buy” rating in a research note on Monday, January 15th. Citigroup restated an “outperform” rating and issued a $380.00 target price (up previously from $350.00) on shares of Biogen in a research report on Tuesday, January 16th. Canaccord Genuity set a $350.00 target price on shares of Biogen and gave the stock a “hold” rating in a research report on Tuesday, January 16th. Barclays reiterated a “buy” rating and issued a $395.00 price objective on shares of Biogen in a report on Sunday. Finally, Mizuho reiterated a “buy” rating and issued a $400.00 price objective on shares of Biogen in a report on Thursday. Nine investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $354.96.
Biogen (NASDAQ:BIIB) last issued its earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.70 by $0.61. The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.05 billion. Biogen had a net margin of 29.44% and a return on equity of 38.51%. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.19 EPS.
In other news, Director Alexander J. Denner bought 30,000 shares of the stock in a transaction that occurred on Wednesday, November 29th. The shares were acquired at an average cost of $317.36 per share, for a total transaction of $9,520,800.00. Following the purchase, the director now owns 10,029 shares of the company’s stock, valued at approximately $3,182,803.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michel Vounatsos bought 780 shares of the stock in a transaction that occurred on Saturday, December 29th. The stock was purchased at an average price of $320.55 per share, for a total transaction of $250,029.00. Following the completion of the purchase, the chief executive officer now directly owns 4,879 shares in the company, valued at approximately $1,563,963.45. The disclosure for this purchase can be found here. Insiders have bought a total of 31,560 shares of company stock worth $10,020,858 in the last 90 days. 0.25% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of BIIB. Horan Capital Advisors LLC. acquired a new stake in Biogen in the 3rd quarter worth $128,000. Atlantic Trust LLC acquired a new stake in Biogen in the 2nd quarter worth $114,000. Massey Quick Simon & CO. LLC grew its position in Biogen by 84.8% in the 3rd quarter. Massey Quick Simon & CO. LLC now owns 425 shares of the biotechnology company’s stock worth $133,000 after purchasing an additional 195 shares during the last quarter. Cable Hill Partners LLC grew its position in Biogen by 224.7% in the 3rd quarter. Cable Hill Partners LLC now owns 487 shares of the biotechnology company’s stock worth $152,000 after purchasing an additional 337 shares during the last quarter. Finally, Gs Investments Inc. acquired a new stake in Biogen in the 2nd quarter worth $136,000. Institutional investors and hedge funds own 88.18% of the company’s stock.
Biogen Company Profile
Biogen Inc is a biopharmaceutical company. The Company focuses on discovering, developing, manufacturing and delivering therapies to people living with serious neurological, rare and autoimmune diseases. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA and FAMPYRA for multiple sclerosis (MS), FUMADERM for the treatment of severe plaque psoriasis and SPINRAZA for the treatment of spinal muscular atrophy (SMA).
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